The euro is not in trouble but there are big imbalances in the euro area that need to be addressed, the Eurogroup's president Jean-Claude Juncker told CNBC Wednesday.The imbalances should be remedied by structural reforms, while a macroeconomic debate regarding the competitiveness of countries in the euro zone should have taken place "more intensively" over the past few years, he added.
What amazes me is the politicians always sound they know what they are doing in finding solutions to yesterday's problems. The only discipline we can rely on is that of the markets. Everything else is plain nonsense, no matter how smart they sound or look.
The reason may be that they are prey of special interest groups (I call them power groups) acting for their benefit.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked best market timer in the 12 and 6 months ending 8/20/10 by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
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1 comment:
Peter, so you got title of best market timer...I been doing Ok this week
Between Copper trade and USD future trade I am up 25% in one account this week. Not bad, but have done the same in the past and then saw all profit whittle away by tilting at the same old windmills.
Short copper again, based on macro and micro and my own personal bias, and that SPX was up big, while USD barely changed, DR. Copper is going to be prescribing himself some anti-biotics soon.
http://oahutrading.blogspot.com/
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